state gambling revenue

A number of U.S. states hope to balance their budgets by allowing gambling, then taxing it. But that's a gamble in its own right; in light of new industry reports, these states could be in for a big disappointment -- as the gaming industry has been hard hit by the recession. States such as Ohio,...

In many of the nation's cash-strapped statehouses, legislators have turned to increased gambling venues to fill gaping holes in their budgets. But rolling the dice on this industry does not appear to be a winning strategy, a new study from the Nelson A. Rockefeller Institute shows. Why not? This...